The company is also in the business of setting up cold storage facilities especially for fruits which need to be preserved so that they can be delivered fresh to the consumers.

Started in 2015, Ninjacart had raised its first round of funding in 2017 and with this round has taken the full amount raised to Rs 310 crore.

BENGALURU: Agri-tech startup Ninjacart has raised Rs 250 crore in a series B round of funding led by Accel US and Syngenta Ventures which is dedicated to invest in the agriculture sector. Others like Korean investment company Neoplux, Jo Hirao, founder of ZIGExN, HR Capital and Trifecta Capital.

Along with the new set of investors the company said that its existing ones like Nandan Nilekani, Accel India, Mistletoe, Qualcomm Ventures also participated in this round. The RainMaker Group was the financial advisor to Ninjacart for this funding round.

Ninjacart which is in the business of supplying fresh fruits and vegetables directly from farmers to urban retailers intends to use the funds to enter new cities like Mumbai and Delhi and expand its distribution centre network to more than 200.

“We already have around 4000 retailers and more than 3000 farmers whom we are connecting through our platform spread across five states currently Karnataka, Tamil nadu, Maharashtra, Andhra Pradesh and Telengana,” said Thirukumaran Nagarajan, co-founder of Ninjacart.

The startup that is trying to bring in tech innovations to improve farmers’ income intends to pump in funds to expand its technology set up across supply chain, inventory and packaging of agri-products.

“Perishable items are delivered within 12 hours of an order being placed, semi perishable ones get delivered within two to three days,” Nagarajan said.

The company is also in the business of setting up cold storage facilities especially for fruits which need to be preserved so that they can be delivered fresh to the consumers. With automation and formalisation the startup claims to be able to push up farmers’ income by 20%.

“We also ensure that hygiene is maintained by taking care of the fact that our products are not touched by hand once they are delivered to our collection centres and we are investing heavily to ensure that the transportation happens under hygienic conditions,” he said.

Started in 2015, Ninjacart had raised its first round of funding in 2017 and with this round has taken the full amount raised to Rs 310 crore.

“With the current round of financing we expect them to continue to scale rapidly, enter new cities, and enable direct relationships with farmers and shop owners across even more categories,” said Subrata Mitra, partner at Accel India.